Insider Selling: Acelyrin, Inc. (NASDAQ:SLRN) Insider Sells $10,721.62 in Stock

Acelyrin, Inc. (NASDAQ:SLRN) insider Amar Murugan sold 3,913 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $2.74, for a total transaction of $10,721.62. Following the sale, the insider now directly owns 121,587 shares in the company, valued at $333,148.38. This trade represents a 3.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Acelyrin Stock Performance

Shares of Acelyrin stock opened at $2.75 on Friday. The stock has a market cap of $275.90 million, a P/E ratio of -1.12 and a beta of 1.25. The stock’s fifty day moving average is $2.29 and its 200 day moving average is $3.82. Acelyrin, Inc. has a one year low of $1.85 and a one year high of $7.86.

Acelyrin (NASDAQ:SLRN) last posted its quarterly earnings data on Wednesday, March 19th. The company reported ($0.79) EPS for the quarter, topping the consensus estimate of ($0.86) by $0.07. Analysts predict that Acelyrin, Inc. will post -2.53 EPS for the current year.

Hedge Funds Weigh In On Acelyrin

A number of hedge funds have recently modified their holdings of SLRN. XTX Topco Ltd bought a new stake in Acelyrin during the 4th quarter valued at approximately $33,000. 4WEALTH Advisors Inc. purchased a new position in shares of Acelyrin during the fourth quarter valued at about $35,000. Hsbc Holdings PLC bought a new stake in shares of Acelyrin in the fourth quarter worth about $36,000. RPO LLC purchased a new stake in shares of Acelyrin in the fourth quarter worth about $46,000. Finally, Virtu Financial LLC bought a new position in Acelyrin during the third quarter valued at approximately $50,000. 87.31% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SLRN. HC Wainwright cut their price target on shares of Acelyrin from $8.00 to $6.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Citigroup cut their target price on Acelyrin from $6.00 to $3.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Finally, Wells Fargo & Company decreased their target price on Acelyrin from $15.00 to $13.00 and set an “overweight” rating for the company in a research report on Wednesday, December 11th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $9.60.

Acelyrin Company Profile

Acelyrin, Inc, a clinical biopharma company, focuses on identifying, acquiring, and accelerating the development and commercialization of transformative medicines. The company's lead product candidate is izokibep, a small protein therapeutic designed to inhibit IL-17A with high potency, which is in Phase 3 clinical trials for use in the treatment of Hidradenitis Suppurativa, Psoriatic Arthritis, and uveitis, as well as in Phase 2 clinical trials for use in the treatment of Axial Spondyloarthritis.